State-owned refiner Indian Oil Corp. has purchased a cargo of Iranian oil which would be the country’s first such delivery since 2019, according to people familiar with the matter, as weeks of war in the Persian Gulf upend the energy trade. India’s largest refiner is expected to to take delivery of the Middle Eastern volumes this week, the people said, without providing details of the vessel or th...
State-owned refiner Indian Oil Corp. has purchased a cargo of Iranian oil which would be the country’s first such delivery since 2019, according to people familiar with the matter, as weeks of war in the Persian Gulf upend the energy trade. India’s largest refiner is expected to to take delivery of the Middle Eastern volumes this week, the people said, without providing details of the vessel or the payment mechanism. The people asked not to be named due to the sensitivity of the matter. IOC didn’t immediately respond to an emailed request for comment. India hasn’t purchased Iranian crude since May 2019 due to US sanctions, and refiners have typically been cautious. On Saturday, however, the world’s third-largest importer said it would buy cargoes from Iran among other other countries in order to navigate the current energy crisis, and denied any vessel had been diverted because of payment troubles. Curacao-flagged crude tanker Jaya, laden with Iranian oil, most recently indicated it is heading for India, according to ship-tracking data. The carrier last signaled its position heading from the Malacca Strait into the Andaman Sea over the weekend, after routing away from Malaysian waters and a popular holding area for vessels with Iranian cargoes. Ship destinations are indicative and can change. Last week, the US-sanctioned Ping Shun, also laden with Iranian crude, initially indicated it was heading to India before turning away. The IOC’s latest purchase follows a US Treasury general license issued last month that waived restrictions on previously sanctioned Iranian oil already on the water. The US also issued a similar waiver for the purchase of Russian crude, and India has made significant purchases. Facing an acute cooking-gas shortage, India has already taken liquefied petroleum gas cargoes from Iran. Read More: Russian Oil Finds Buyers After US Waiver But Iranian Cargoes Lag The war in the Middle East and the effective closure of the Strait of Hormuz over the past...
The new owner will serve as the Australian town’s postie, publican, cook and shopkeeper In the heart of outback Queensland, more than 800km west of Brisbane, sits a town with its own postcode and exactly two residents. Now, the entire population of Cooladdi is packing up – and the town is officially on the market. For $400,000, buyers will get the Foxtrap Roadhouse, a four-bedroom home, and the ke...
The new owner will serve as the Australian town’s postie, publican, cook and shopkeeper In the heart of outback Queensland, more than 800km west of Brisbane, sits a town with its own postcode and exactly two residents. Now, the entire population of Cooladdi is packing up – and the town is officially on the market. For $400,000, buyers will get the Foxtrap Roadhouse, a four-bedroom home, and the keys to the town. It’s a far cry from the $935,000 median price for a cramped Sydney unit. Continue reading...
Over the past three years, artificial intelligence (AI) stocks have driven overall market gains -- investors, from the smallest retail investor to billionaire hedge fund managers, have piled into these players. And it's very easy to understand why. AI promises to shake up the way many things are done, and in a positive way -- the technology may help companies gain efficiency, develop better produc...
Over the past three years, artificial intelligence (AI) stocks have driven overall market gains -- investors, from the smallest retail investor to billionaire hedge fund managers, have piled into these players. And it's very easy to understand why. AI promises to shake up the way many things are done, and in a positive way -- the technology may help companies gain efficiency, develop better products faster, and more. And all of this equals cost savings and revenue growth. So investors rushed to get in on big AI names such as Nvidia (NASDAQ: NVDA) , Palantir Technologies (NASDAQ: PLTR) , and other companies playing a big role in the field. These two advanced more than 1,100% and 2,600%, respectively, over the past three calendar years. But over the past few months, the mood in the stock market has changed. Investors, seeing valuations of AI stocks soar, began to worry about these levels -- and questioned whether they were sustainable. On top of this, turmoil in Iran and uncertainty about U.S. economic growth also weighed on investors' minds. Continue reading
From Bat for Lashes to Brakes and the Pipettes, misfits on the south coast made fearless music amid cheap rents and salty air. Could this ever happen again? It’s any given night in 2002. We’re at the Free Butt in Brighton, a small pub with a stage and an anything-goes spirit that serves as an extended living room and rite-of-passage workplace for aspiring musicians. Natasha Khan – not yet Bat for ...
From Bat for Lashes to Brakes and the Pipettes, misfits on the south coast made fearless music amid cheap rents and salty air. Could this ever happen again? It’s any given night in 2002. We’re at the Free Butt in Brighton, a small pub with a stage and an anything-goes spirit that serves as an extended living room and rite-of-passage workplace for aspiring musicians. Natasha Khan – not yet Bat for Lashes, still a Brighton University art student – is dancing on top of the bar while Yeah Yeah Yeahs are tearing through their first UK tour. Guy McKnight, the lead singer of the brutally underrated Eighties Matchbox B-Line Disaster, has just finished pulling pints, his day job when he’s not the city’s greatest frontman. Steve Ansell of Cat on Form, soon to form Blood Red Shoes, is the in-house sound engineer. Joe Mount from Metronomy is watching this week’s buzziest local support band. The atmosphere is charged with the feeling that anyone in the room might be about to become someone known beyond our city’s limits. Often, they did. In the early 2000s, music scenes tended to have stories that bands and media could rally around: a shared silhouette, a signature sound, a shaped mythology. New York City gave us the Strokes and Interpol with their tight black denim and wiry riffs; Libertines-era London had its own sticky churn of style, press and parties. Yet Brighton was rarely described as a scene, despite being home to Nick Cave and Paul McCartney and hothousing a surge of remarkable young talent that’s still thriving more than 20 years later. In this seaside enclave, rock bands sounded and looked so unlike each other, they never needed to jostle for a single narrow lane. Continue reading...